MasterBrand Cabinets' parent Fortune Brands said sales increased 3 percent to $1.28 billion, despite softening activity in repair and remodeling. Cabinetry sales flattened.
Fortune Brands cabinet sales increased 33 percent from the prior year. Excluding the impact of the Norcraft acquisition, sales increased 10 percent, with the dealer channel growing 11 percent and in-stock cabinet and vanities increasing strong double digits.
Four things to watch: Pay rates will be pressured upward, as firms add benefits, base pay rises at retailers, and White House executive orders mandate increases. With 215,000 new jobs added in July, expect more competition for workers. Also on the watch: upward pressure on lumber and panel prices by housing's recovery, and now, with the EPA plan mandating CO2 reductions, U.S. utilities could follow Europe's elad and burn CO2 neutral wood chips - competing with MDF, plywood and OSB for raw material.
Norcraft Companies Schedules Earnings Release and Conference Call for Third Quarter 2014 Results on November 5.
Norcraft Cabinetry sees LED lighting on toe kicks, darker colors and gray washes among the top design trends. At a seminar by DirectBuy in Indianapolis, attendees also received design tips on drawer organization trends.
Norcraft Cabinetry shared the top design trends at a seminar hosted by DirectBuy of Indianapolis on August 23rd. Attendees also received one on one design tips from the speaker.
Cabinetry manufacturer Norcraft Companies, Inc. (NYSE:NCFT) anticipates continued increased sales through the next fiscal quarter.Seeing signs of increased sales in new home construction as well as the renovation market,
By Alex Keown
Norcraft Cabinetry sales increased 8.6% to $84 million in the first quarter, though icy winter weather delayed deliveries. Net income turned positive, at $2.7 million, in the first full quarter since Norcraft became publicly traded.
Norcraft Cabinets Q4 sales rose 13%, net income rose 42%. An IPO gathered $107.3 Million to retire debt. A move to higher margin cabinetry hurt Q4 sales, which grew at a slower pace than the year as a whole. (NYSE:NCFT)
Norcraft Companies, kitchen and bathroom cabinetry manufacturer of Mid Continent Cabinetry, Norcraft Cabinetry, UltraCraft, StarMark Cabinetry and Fieldstone Cabinetry, began trading on the New York Stock Exchange Nov. 6, 2013 at $16 a share.